Major Retailers are Rushing to Stay Ahead of the Demand for CBD

January 09, 2020 - By: Baystreet Staff


Major retailers are jumping on the CBD bandwagon. Neiman Marcus, Abercrombie & Fitch, Vitamin Shoppe, Kroger’s, Barney’s, DSW, CVS, American Eagle Outfitters, Dick’s Sporting Goods, and even Dollar General will sell CBD products. Even better, after launching Lord Jones’ CBD products, Sephora just announced that it’s expanding its in-store CBD offerings with Saint Jane in 281 stores in 22 U.S. states. Helping a great deal, 14% of Americans are now using products that contain CBD, according to a Gallup poll, as retailers rush to keep up with demand. As retailers just begin to jump on the CBD boom, it’s creating opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), Curaleaf Holdings Inc. (CSE:CURA)(OTC:CURLF), and Aphria Inc. (NYSE:APHA)(TSX:APHA).

The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWSThe Yield Growth Corp. just announced it has appointed seasoned sales expert Amber Allen as Vice President of Sales for Yield Growth’s Flourish Mushroom Labs Inc., overseeing Flourish’s international launch of its mushroom coffee line and mushroom soups. Ms. Allen has decades of experience working with distributors to grow a multitude of brands in the edible mushrooms and other wellness industries, including helping to grow sales for the Four Sigmatic brand. “Four Sigmatic's mushroom coffee mix with Lion's Mane and Chaga is the No. 1 best seller in the instant coffee category on Amazon, beating out Nescafe and Starbucks,” once noted CNBC. Ms. Allen has also worked with wellness companies, such as My Matcha Life, Sun Warrior, Mikei Red Reishi and Thursday Plantation. “Amber’s qualifications in building marketing plans for medicinal mushrooms and experience growing sales for some of the world’s leading mushroom brands make her an ideal candidate to help us launch our mushroom consumer packaged foods division,” says Penny White, CEO of Yield Growth.

Other cannabis-related developments from around the markets include:

Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) just announced that effective January 14, 2020, David Klein has been appointed as the Company’s Chief Executive Officer. David brings a wealth of expertise to this role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader with a proven track record of developing diverse and high performing teams. In his current role as executive vice president and chief financial officer at Constellation Brands, David oversees all aspects of the company’s finance operations, all mergers and acquisitions, as well as the company’s information technology function. He is widely respected among members of the U.S. investment community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of Constellation Brands’ executive management committee. He has served on the Canopy Growth Board of Directors for over a year and is presently Canopy Growth’s Board Chair. This familiarity with the Company’s current leadership team and strategy will allow David to integrate quickly, a major benefit in the fast-moving cannabis sector.

Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) shared statistics from its first full holiday season and from its second fiscal quarter ended December 28, 2019. Over 128,000 Seventh Sense Botanical Transactions were processed between Black Friday and December 28, 2019. Seventh Sense offered three holiday-exclusive items: the Pebble Lip Balm, Therapeutic Starter and the Lip and Body gift sets. Bestselling Seventh Sense products included the 1,500 mg Hyperstrength Cream, the Therapeutic Starter gift set and the Unwind Sleep Blend Roll-On. Over 85,000 consumers received a Seventh Sense direct mail piece detailing the product line and holiday offerings. The Seventh Sense customer database grew by 42% between Black Friday and December 28, 2019. As of December 28, 2019, the Company operates 195 mall-based Seventh Sense shops in 35 states, including 54 new shops that opened during second quarter fiscal 2020. “Our ability to capitalize on the holiday shopping season is a reflection of our retail and operations expertise,” said Peter Horvath, CEO of Green Growth Brands. “We are pleased with the performance of both business segments and particularly excited by the consumer demand signals we saw in CBD.  We have brought together high-quality CBD, high-efficacy personal care formulations, familiar packaging, top-tier retail presentations, and fair, everyday-value prices to create products that consumers from all walks of life are really responding to.

Curaleaf Holdings Inc. (CSE:CURA)(OTC:CURLF) announced that it has received a Notice of Intent to Award a medical cannabis retail license from the Utah Department of Health. "Curaleaf is proud to have been selected as a recipient of a medical retail license in Utah, and we look forward to bringing our premium products, services and expertise to medical patients there," said Joseph Lusardi, Chief Executive Officer of Curaleaf. "We are grateful to be part of the early development of the industry in the state and will earn the trust and patronage of patients there as we have in the other states where we operate." Curaleaf has won one of 14 licenses to open a medical cannabis dispensary in Utah, from more than 130 applications and 60 different companies. The Company's license is for Region 3, which includes Utah, Wasatch, Daggett, Duchesne, Uintah, Carbon, Emery, Grand and San Juan Counties. Curaleaf plans to open a dispensary in Lindon, Utah – adjacent to Interstate 15 between Salt Lake City and Provo – for medical patients later this year, pending final approvals from regulators.

Aphria Inc. (NYSE:APHA)(TSX:APHA) announced its participation in the 2020 ICR Conference on Tuesday, January 14, 2020 in Orlando, FL. In addition to pre-scheduled one-on-one meetings, Irwin D. Simon and Carl Merton will participate in a fireside chat at 2:30 p.m. ET. There will be a simultaneous, live webcast available on the Investors section of Aphria’s website.

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